The Confederation of Zimbabwe Industries dropped survey results showing that most companies are getting wrecked on profits, with 44 percent reporting smaller margins compared to 41 percent that actually grew during a nine-month stretch. Average revenue only went up 2.4 percent across 514 firms, and businesses blamed import competition, cash problems, power outages, and policy chaos for the struggles.
Medium-sized operations did better than everyone else, with 55 percent posting gains, while half of the small firms took losses. Agriculture and horticulture saw 48 percent of companies growing profits, but wholesale, retail, financial, and ICT sectors got hammered, with 54 percent reporting declines. Job creation stayed weak, with...